The latest business news in Nigeria, Africa and the world.

FG Proposes N8.6tn For 2019 Budget

The Federal Government on Thursday proposed N8.6tn for the 2019 fiscal year in contrast to N9.1tn for 2018.

Falana Alleges $12.7bn Crude Stolen From Nigeria In Three Years

Human rights lawyer Femi Falana (SAN) on Thursday alleged that $12.7bn worth of crude oil was stolen from the country between 2011 and 2014.
Electricity Generation Nigeria

Why I Won’t Do Magic To Solve Nigeria’s Electricity Problems – Fashola

Power, Works, and Housing Minister Babatunde Fashola has said the country is making progress in solving its electricity challenges.

Buhari Govt Has No Plan To Sell Ajaokuta Steel Company – Osinbajo

The Nigerian government is not thinking about selling the Ajaokuta Steel Company in Kogi state, according to the nation's vice-president Yemi Osinbajo.

Buhari Urges Women To Deepen Participation In Agriculture

Aisha Buhari, wife of President Muhammadu Buhari has called on women to deepen their participation in agriculture and make their voices heard.
Audu Ogbeh

FG Restates Commitment To Give Women Improved Agricultural Inputs

Agriculture and Rural Development Minister Audu Ogbeh has said the federal government would ensure that women get improved agricultural inputs.

Nigeria’s Foreign Reserves Fall By $2.1bn In 30 Days

Nigeria’s foreign exchange reserves have declined by $2.15 billion in the last thirty days, following the Central Bank of Nigeria (CBN) decision to defend the naira.

FG Approves Issuance Of $2.9bn In Eurobonds

The issuance of $2.9 billion in Eurobonds has been approved by the Federal Government, Minister of Finance Zainab Ahmed has said.
Trader Moni Loan Ogun State

Over 10,000 Traders Get Zero-Interest Trader Moni Loan In Ogun State

Over 10,000 petty traders in Ogun State have on Wednesday gotten access to the federal government's Trader Moni interest-free loan.

Stop ATM Card Maintenance Charges, Senate Tells CBN

The Senate has told the Central Bank of Nigeria (CBN) to suspend the ATM card maintenance charges being deducted from customers.
World Bank

Nearly Half The World Lives On Less Than $5.50 A Day – World Bank

Nearly half the world’s population lives on less than $5.50 a day, with a rising share of the poor in wealthier economies, the World Bank has said.

NNPC Denies Being In Possession Of $3.5bn Subsidy Fund

The Nigerian National Petroleum Corporation (NNPC) on Wednesday denied being in possession of any $3.5bn Subsidy Fund.
NLNG To Sign Agreement On Guaranteed Feedstock Supply For Train 7 Project

Nigeria Firms To Build $4.3bn NLNG Train 7 – NCDMB

The Nigerian Content Development and Monitoring Board (NCDMB) has said the engineering, procurement, and construction of the $4.3bn Nigeria LNG Limited Train 7 plant will be done by indigenous companies.

Nigeria’s Inflation Rises For The Second Time In 18 Months

Nigeria’s inflation rose for the second time in September since it started its decline in January 2017.

Nigeria’s Contributory Pension Assets Jump To N8.33tn

The assets under the Contributory Pension Scheme increased N100bn from N8.23tn in June to N8.33tn August 2018.
FG To Review Performance Of DisCos In 2019

FG To Review Performance Of DisCos In 2019

The Bureau of Public Enterprises (BPE) says it will embark on a final performance review of the electricity distribution companies (DisCos) by 2019.

Why We Chose To Save The Naira – Emefiele

The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, says the Buhari-led administration chose to save the naira instead of building reserves in order not to create problems in the banking system.
Ekiti Debt Profile Rises From N117bn To N120bn Within 3 Months

Ekiti Debt Profile Rises From N117bn To N120bn Within 3 Months

Ekiti state debt profile which was N117 billion at the beginning of the year has risen to N120 billion.

NCAA Partially Lifts Ban On Aviation College

The NCAA has partially lifted the suspension on International Aviation College, Ilorin’s Approved Training Organisation certificate.

Buhari’s Minister Says Nigeria Can Still Borrow More

The Minister of Budget and National Planning, Udo Udoma, has said Nigeria was not running any debt risk, adding that the country can borrow more.
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